China's ZTE estimates at least $3.1 billion loss from US sanctions
The report also said the company is hopeful to remove the ban soon
The logo of China's ZTE is seen on a building in Nanjing, Jiangsu province, China April 19, 2018. Picture taken April 19, 2018. PHOTO: REUTERS
BEIJING:
China’s ZTE is estimating losses of at least 20 billion yuan ($3.1 billion) due to Washington’s ban on US firms supplying the telecommunications firm, Bloomberg reported on Wednesday, citing unnamed sources.
China’s ZTE may lose Android license
The report also said ZTE is hopeful that the United States and China will be able to soon reach a deal that would remove the ban and has a plan in place allowing the telecoms firm to “swing idled factories into action within hours” of the ban being officially lifted.
China’s ZTE is estimating losses of at least 20 billion yuan ($3.1 billion) due to Washington’s ban on US firms supplying the telecommunications firm, Bloomberg reported on Wednesday, citing unnamed sources.
China’s ZTE may lose Android license
The report also said ZTE is hopeful that the United States and China will be able to soon reach a deal that would remove the ban and has a plan in place allowing the telecoms firm to “swing idled factories into action within hours” of the ban being officially lifted.